Bailout's fallout could be plus

Area bankers see benefits for housing market

While the federal takeover of giant mortgage financiers Freddie Mac and Fannie Mae won't directly affect area banks, the fallout could be positive, bankers said Monday.

Their comments came as Washington put the two government-sponsored enterprises into conservatorship to prevent them from failing and to keep the mortgage market from freezing up.

"Any time the government is willing to provide liquidity (a cash cushion) to entities so vital to the housing market . . . it's good," said said Frank Cianciola, president and chief executive officer of Renasant Bank in Memphis.